Dodge & Cox Sells 41,056 Shares of Charter Communications, Inc. $CHTR

Key Points

• Dodge & Cox has a significant stake in Charter Communications, holding approximately $4.24 billion worth of shares, representing 2.4% of its total holdings.
• Charter Communications reported earnings per share (EPS) of $9.18, missing consensus estimates by $0.88, despite revenue meeting expectations.
• Recent analyst actions have seen target prices for Charter Communications increase, with analysts setting a new high target of $500.00 and giving the stock a mix of Buy and Hold ratings.

Dodge & Cox lessened its holdings in Charter Communications, Inc. (NASDAQ:CHTR - Free Report) by 0.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,506,120 shares of the company's stock after selling 41,056 shares during the period. Charter Communications comprises 2.4% of Dodge & Cox's holdings, making the stock its 7th biggest position. Dodge & Cox owned 8.20% of Charter Communications worth $4,240,350,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Makaira Partners LLC lifted its position in shares of Charter Communications by 4.0% in the 4th quarter. Makaira Partners LLC now owns 373,191 shares of the company's stock worth $127,919,000 after purchasing an additional 14,510 shares during the period. Private Trust Co. NA lifted its position in Charter Communications by 69.5% during the first quarter. Private Trust Co. NA now owns 161 shares of the company's stock valued at $59,000 after acquiring an additional 66 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Charter Communications by 21.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,893 shares of the company's stock valued at $1,435,000 after acquiring an additional 676 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Charter Communications by 25.2% during the first quarter. Vontobel Holding Ltd. now owns 1,649 shares of the company's stock valued at $608,000 after acquiring an additional 332 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Charter Communications by 20.3% during the first quarter. Envestnet Asset Management Inc. now owns 33,471 shares of the company's stock valued at $12,335,000 after acquiring an additional 5,642 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CHTR shares. Wall Street Zen raised shares of Charter Communications from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Arete Research raised shares of Charter Communications to a "strong sell" rating in a research report on Tuesday, July 8th. Bank of America upped their price target on shares of Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Royal Bank Of Canada cut their price target on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a research note on Monday, July 28th. Finally, Barclays cut their price target on shares of Charter Communications from $341.00 to $275.00 and set an "underweight" rating on the stock in a research note on Monday, July 28th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $404.71.

Charter Communications Stock Performance

Shares of NASDAQ:CHTR traded up $2.48 during midday trading on Wednesday, reaching $269.15. The company's stock had a trading volume of 1,472,060 shares, compared to its average volume of 1,497,886. The firm has a market capitalization of $36.76 billion, a PE ratio of 7.37, a P/E/G ratio of 0.61 and a beta of 1.02. Charter Communications, Inc. has a twelve month low of $254.67 and a twelve month high of $437.06. The stock has a fifty day moving average of $338.54 and a 200 day moving average of $360.95. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). The business had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The firm's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.49 EPS. On average, equities analysts expect that Charter Communications, Inc. will post 38.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher L. Winfrey purchased 3,670 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average price of $273.10 per share, for a total transaction of $1,002,277.00. Following the completion of the transaction, the chief executive officer owned 70,243 shares in the company, valued at $19,183,363.30. This represents a 5.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Balan Nair purchased 360 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the transaction, the director owned 9,622 shares of the company's stock, valued at $2,638,448.62. This trade represents a 3.89% increase in their position. The disclosure for this purchase can be found here. 0.83% of the stock is owned by corporate insiders.

Charter Communications Company Profile

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.